IGI announces special cash dividend of $0.85 per share

HAMILTON, Bermuda - International General Insurance Holdings Ltd. (NASDAQ: IGIC), a global specialty commercial insurer and reinsurer, has declared an extraordinary cash dividend of $0.85 per common share. This special dividend is for the period from October 1, 2024, to December 31, 2024. The announcement comes in addition to the company’s regular quarterly dividend of $0.025 per share. According to InvestingPro data, IGIC has maintained dividend payments for 5 consecutive years, demonstrating consistent shareholder returns while trading at an attractive P/E ratio of 8.61.

Shareholders of record at the close of business on April 4, 2025, will be eligible for the dividend, which is scheduled to be paid on April 22, 2025. The total dividend distribution, combining the extraordinary and regular dividends, will amount to $0.875 per share. The company’s strong financial position is reflected in its impressive 106% return over the past year and revenue of $539 million in the last twelve months.

IGI, established in 2001 and registered in Bermuda, operates across various global locations including London, Malta, Dubai, Amman, Oslo, Kuala Lumpur, and Casablanca. The company underwrites a wide range of specialty lines, such as energy, property, and marine cargo, among others. IGI is recognized for its financial stability with an A (Excellent)/Stable rating from AM Best and an A-(Strong)/Stable rating from S&P Global Ratings.

The press release also contained forward-looking statements, which are based on current expectations, estimates, and projections about IGI’s business and the industry in which it operates. These statements are subject to risks, uncertainties, and changes in circumstances that could cause actual results to differ materially from those expressed or implied by the statements. InvestingPro reports a "GREAT" overall financial health score of 3.19, suggesting strong fundamentals despite market uncertainties. Factors that could influence IGI’s performance include changes in market demand, competitive pressures, legal and regulatory developments, currency fluctuations, and other economic and geopolitical factors.

Investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their date. IGI does not commit to updating any forward-looking statements to reflect subsequent events or developments, except as required by law.

This news report is based on a press release statement issued by International General Insurance Holdings Ltd. and does not contain any additional analysis or opinion.

In other recent news, International General Insurance Holdings (IGIC) reported a record net income of $135.2 million for the fourth quarter of 2024, marking a 15% increase from the previous year. Despite slightly missing earnings per share expectations with an EPS of $0.65 against a forecast of $0.66, the company demonstrated strong financial health and strategic growth. Revenue for the quarter also saw a 15% year-over-year increase, aligning with the net income growth. The company has been expanding its operations, particularly in the U.S. and European markets, and has improved its combined ratio to 79.9%, indicating strong underwriting performance.

Additionally, IGIC’s book value per share rose by 19.8% to $14.85, reflecting efficient capital management. The company remains cautiously optimistic about future growth, with projections for Q1 2025 earnings per share at $0.69 and revenue at $135.5 million. Analysts from Oppenheimer and RBC Capital Markets have noted the company’s disciplined approach to underwriting and market expansion. IGIC continues to navigate competitive pressures and market volatility, with a focus on maintaining profitability and strategic market positioning.

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